Bethlehem officials cheer renovation of former Farr's shoe store

View full sizeExpress-Times Photo | BILL ADAMSA tour today offered an inside peek at one of the 24 apartments in the newly renovated Farr's building on West Broad Street in Bethlehem. All but five of the apartments have been rented, officials say.

In September 2007, Bethlehem officials gathered in the vacant shell of the former Farr’s shoe store and lauded the future opening of an Irish pub in the historic West Broad Street building.

That plan didn’t work out, and renovations took longer than expected, but nearly five years later, city officials today called the building’s rehabilitation a success.

While the 1920s neoclassical building still awaits a retail tenant, all but five of the new 24 apartments have been rented. Officials say their quick rental is a sign the retail space should be filled soon as well.

“It’s already a great success,” Mayor John Callahan said. “It’s a public goal that we all want to see investment in our downtown.”

Officials called the four-story building, at North New Street, a marquee building in the city. Developers Amy Pektor, Lisa Pektor, Anthony Scarcia and a fourth unnamed partner invested $3.8 million in the renovations. A $600,000 Pennsylvania Redevelopment Assistance Capital Program grant was used for the project.

State Sen. Lisa Boscola, D-Lehigh/Monroe/Northampton, called the state grant crucial to obtaining private financing for the project during such difficult economic times.

The 5,495-square-foot retail space presents a rental challenge because it is so large, Callahan said. But officials also said the large space is beneficial because it has floor-to-ceiling windows on two sides that fully open to the street and would make for stunning indoor-outdoor dining space.

The retail space appears largely unfinished, but Scarcia said its appearance is deceiving as a lot of behind-the-scenes work has been done and it wouldn’t take long to outfit. The retail space, which is renting for $17 a square foot, could be subdivided, but the owners are hoping for one major tenant that will truly take advantage of the space, Scarcia said.

Most of the apartments, which start at $825 a month for a one bedroom, were rented over a two-month period, Amy Pektor said. Most tenants are young professionals originally from other states who recently obtained jobs in the Lehigh Valley, she said.

Five larger loft-style apartments, which rent for $1,275 for a one bedroom and $1,450 for a two bedroom, remain to be rented. All the apartments have high-end finishes such as granite countertops and stainless steel appliances.

The city especially wants to attract young professionals to live downtown, Callahan said. While tourists are important to the downtown restaurant and retail businesses, it’s really residents who keep them in business year-round, Callahan said.

“In order to have a strong downtown, you have to put people in your downtown,” he said.